The Oldest U.S. Bank’s Rebranding Journey

The oldest U.S. bank is getting a new name.

Embracing Change: BNY’s Transformation

Bank of New York Mellon, now embracing “BNY” as its new name, announced the change in a memo from CEO Robin Vince on Tuesday. The company has also put up block-letter signs with the new name at its major offices.

Founded 240 years ago by Alexander Hamilton, BNY has grown to manage $48.8 trillion in assets and acts as a custodian bank for other financial institutions.

BNY is the longest continuously operating company in New York City, with its founding predating the U.S. Constitution.

“While we’ve always been known as trusted and resilient, thriving for over two centuries required continuous innovation,” Vince stated.

Visionary Leadership and Strategic Growth

Since becoming CEO in March 2022, Vince has introduced new leadership and focused on growth areas like real-time payments and artificial intelligence, while also improving efficiency. Before joining BNY, Vince spent 26 years at Goldman Sachs, where he became the chief risk officer.

Key Achievements in 2024

• BNY’s stock has increased nearly 17% in 2024, outperforming the 13% rise in the S&P 500 bank index.
• Its earnings per share and revenue also rose last year.

A New Identity for BNY

This rebranding is BNY’s first since it adopted the name BNY Mellon 17 years ago, following a trend on Wall Street towards shorter names after years of mergers and acquisitions.

BNY also introduced a new teal arrow logo and will rename some of its divisions: BNY Investments, BNY Wealth, and BNY Pershing. To mark the rebrand, the bank is releasing new branded merchandise like sweatshirts.

However, its legal name will remain The Bank of New York Mellon Corporation.